Betoken is Live on Mainnet!

Today, we are beyond excited to announce the launch of
Betoken, a fund management protocol that will not only
transform how people invest in cryptocurrencies, but also provide thousands of
open job opportunities to crypto-traders.

Betoken uses a meritocratic system that automatically allocates the most
funds to the managers with the best track record, and also pays them the most
commissions. This tightly couples the managers’ interests — earning commissions
— with the users’ interests — putting at work their money and saving time. We
believe this will make magic happen.

Make sure you are using a dApp browser like Metamask on
Desktop (Chrome, Brave, Firefox) or Trust Wallet on mobile. Note that Ledger
wallets connected through Metamask on Brave aren’t supported. Switch to Chrome.

If you have any questions, concerns, or feedback, don’t hesitate to reach out to
the Betoken team via Telegram,
Twitter or hello@betoken.fund. Also, learn
more in our Help Center and our
Website.

But wait, there’s more!

To celebrate our launch, we want to highlight some of the cool stuff you can do
on Betoken.

Betoken is a child of the DeFi ecosystem

Betoken is an open-source, community-owned, permissionless, and
censorship-resistant protocol that embraces the Decentralized Finance (DeFi)
movement. It is deeply integrated with many other DeFi protocols. Find out about
the details below!

Instant liquidity and quick user onboarding with Kyber Network

Kyber Network is a liquidity protocol that aggregates liquidity from a wide
range of reserves, allowing Betoken managers to trade instantly.

It’s also a perfect solution for onboarding new users who want to connect their
capital or become a manager since it allows users to pay with any of the 70+
cryptocurrencies supported.

For example, a user might use WBTC to deposit their funds into Betoken but
Betoken stores its funds in DAI to keep the value stable. Kyber Network is used
here to make the conversion.

Betoken uses Kyber Network to onboard new users without frictions.

Decentralized margin positions with up to 4x leverage

Betoken makes it easy for the fund managers to create leveraged long or short
positions in WBTC, ETH, KNC, BAT, REP, and ZRX. We
built a noncustodial margin trading platform on top of Fulcrum and Compound.

Fulcrum is a financial primitive enabling margin
trading with up to 4x leverage on Betoken.

Compound is a decentralized protocol which
establishes money markets with algorithmically set interest rates based on
supply and demand, allowing Betoken managers to perform margin trading with up
to 1.5x leverage long and up to 0.5x leverage short.

Note: Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with
Bitcoin. It’s completely transparent, 100% verifiable, and supported by leading
projects. More here.

Bringing stability and accountability with DAI stablecoin

Betoken use MakerDAO’s DAI stablecoin to store value, handle its transparent
bookkeeping, and distribute profits and commissions to its users.
MakerDAO is a decentralized autonomous organization
(DAO) comprised of a decentralized stablecoin (Dai), collateral loans, and
community governance.

The Graph Protocol integration

We’ve seen the challenges in getting data off Ethereum and the issue in terms of
user experience. For this reason, we’ve focused our time on the integration of
@graphprotocol, a decentralized ecosystem
with a powerful API that will load Betoken lightning fast. We’ll release it on
Tuesday, July 30, 2019. #NoMoreSpinner.

Betoken trading contest 🏆 with 1,000 USD in prizes

We’re introducing our fund managers trading contest in partnership with Kyber
Network. We aim to reward our best fund managers during the first month, with
prizes in $KNC.

The top 10 managers who produce the best returns in July will win the
following prizes:

🥇 1st manager: 500USD worth of KNC

🥈 2nd manager: 150USD worth of KNC

🥉 3rd manager: 100USD worth of KNC

🦄 4th-10th managers: 35USD worth of KNC each

The competition begins on Thursday, July 4th, 2019, in our
dApp and will last 27 days. The
result will be announced right after the management
phase ends and the
prizes will be distributed in $KNC immediately.

Show off your trading performance

One of our favorite features on Betoken is the
leaderboard. It tracks managers’
performance and ranks them. Managers’ performance is a form of reputation that
is used heavily in our Incentivized
Meritocracy.

Conclusion

As we mentioned in many posts during the last 18 months, Betoken’s goal is to
create more access to better, cheaper, and more open financial services — no
matter who you are, where you live, what you do, or how much you have. Our hope
is to build a mainstream and self-regulated open financial system. We’re
thrilled to finally launch Betoken and bring that future just a little closer.

Disclaimer

Nothing herein constitutes an offer to sell, or the solicitation of an offer to
buy, any securities or tokens.

Betoken enables capital connection and managing using smart contracts which are
open source. Betoken does not take custody of tokens and is only a collaborative
hub for users connecting their capital and managers. Betoken is not a licensed
bank, broker-dealer, investment advisor or an exchange. Betoken uses partner
protocols (Kyber, Compound, Fulcrum by bZx, Maker DAO) to power its own
ecosystem.

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